OR WEDNESDAY: (4/25) Grains should go up one more day but we’re skeptical about too much more. Cattle came off sharply with the US stock market and given that we see stocks down again on Wednesday, we won’t buy, but if they have a weak bounce, we probably will sell on Thursday.
JULY SOYBEANS (electronic ok)
TODAY’S COMMENTS: (4/25) Market continues to need to hold 1025 but bounces only have to be 11 cents off of the lows. At the moment, 1038-39 would be the most we see. We may consider shorts looking for 1001 but will make sure the market doesn’t spurt beyond 1045 on Wednesday.
OVERALL: Weekly chart support comes in at 1001. If the market continues to get good news, we could easily see that into May.
CYCLES OVERVIEW: Recovering into Thursday.